- Naranj Research Desk
- 🇸🇦 Saudi Stock Market
- 🇺🇸 USA Stock Market
The Saudi stock market remained under pressure last week.
The Tadawul All Share Index (TASI) declined 0.81%, ending the week at 10,720.
Interestingly, this move unfolded almost exactly as we discussed in last week's outlook, reinforcing that the market remains in a short-term downtrend.
Now, all eyes are on one important area.
The 10,500-10,400 zone has acted as a strong support multiple times in the past. Once again, TASI is moving closer to this level.
Because this support could decide the market's next major move.
If buyers defend this area, we may see a relief rally.
However, if the index breaks below 10,400, selling pressure could intensify and drag the market toward the 10,000 level.
At the moment, the daily chart still shows sellers in control, with no clear signs that the downtrend has ended.
This isn't the time to guess.
It's the time to observe.
Until buyers show clear strength, patience may prove to be the best strategy.
Sometimes, protecting your capital is just as important as growing it.
Arijit Banerjee CMT CFTe is a seasoned expert in the financial industry, boasting decades of experience in trading, investment, and wealth management. As the founder and chief strategist of Naranj Capital, he’s built a reputation for providing insightful research analysis to guide investment decisions.
Arijit’s credentials are impressive, holding both the Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) designations. These certifications demonstrate his expertise in technical analysis and financial markets.
Through Naranj Capital, Arijit shares his market insights and research analysis, offering actionable advice for investors. His work is featured on platforms like TradingView, where he publishes detailed analysis and recommendations.
If you’re interested in learning more about Arijit’s work or Naranj Capital’s services, you can reach out to them directly through their website
